TRACON Pharmaceuticals (TCON) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of TRACON Pharmaceuticals (NASDAQ:TCON) from a buy rating to a hold rating in a report published on Friday, January 5th. They currently have $4.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “TRACON Pharmaceuticals, Inc. is a biopharmaceutical company. The company’s product candidate includes TRC105, TRC205 and TRC102 which are in different clinical stage for cancer, age-related macular degeneration and fibrotic diseases. TRACON Pharmaceuticals, Inc. is headquartered in San Diego, California. “

Shares of TRACON Pharmaceuticals (NASDAQ TCON) traded down $0.30 during midday trading on Friday, hitting $2.90. 245,200 shares of the company’s stock were exchanged, compared to its average volume of 218,978. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.80 and a current ratio of 3.80. The company has a market capitalization of $50.80 and a P/E ratio of -2.38. TRACON Pharmaceuticals has a one year low of $2.00 and a one year high of $5.70.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.32. The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.60 million. TRACON Pharmaceuticals had a negative net margin of 201.21% and a negative return on equity of 83.43%. research analysts expect that TRACON Pharmaceuticals will post -1.21 earnings per share for the current year.

An institutional investor recently bought a new position in TRACON Pharmaceuticals stock. Candriam Luxembourg S.C.A. bought a new position in shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 143,000 shares of the biopharmaceutical company’s stock, valued at approximately $450,000. Candriam Luxembourg S.C.A. owned about 0.86% of TRACON Pharmaceuticals at the end of the most recent quarter. 34.06% of the stock is currently owned by institutional investors.

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About TRACON Pharmaceuticals

TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring).

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